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Obama welcomes TransCanada plan for new pipeline

February 28, 2012 • Business


FILE – In this Sept. 15, 2005 file photo, the marker that welcomes commuters to Cushing, Okla. is seen. Canadian company TransCanada says it will build an oil pipeline from Oklahoma to Texas after President Barack Obama blocked the larger Keystone XL pipeline from Canada. The company says the new project does not require presidential approval since it does not cross a U.S. border. The shorter pipeline is expected to cost about $2.3 billion and be completed in 2013. The Obama administration had suggested development of an Oklahoma-to-Texas line to alleviate an oil glut at a Cushing, Okla., storage hub. (AP Photo/The Oklahoman, Matt Strasen, File)

WASHINGTON (AP) — The White House on Monday welcomed a Canadian company’s plan to build an oil pipeline from Oklahoma to Texas after President Barack Obama blocked the larger Keystone XL pipeline from Canada.

The new proposal by Calgary-based TransCanada does not require presidential approval because it does not cross a U.S. border. The 485-mile pipeline is expected to cost about $2.3 billion and be completed next year, pending approval by federal, state and local governments.

The Obama administration had suggested development of an Oklahoma-to-Texas line to alleviate an oil bottleneck at a Cushing, Okla., storage hub.

Obama rejected the Keystone XL pipeline last month, citing uncertainty over a route that avoids the environmentally sensitive Sandhills region in Nebraska. He Login to read more

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